Why our 5, 10 and 20 taka notes are falling apart

A new nuisance is spreading across the country and young and old alike are fed up with it. It is the menace of torn, tattered and flimsy banknotes — often dubbed as "dishrags".

"Money is a troublesome thing; you cannot get by without it, but it is a pain when you have it," said Forkan Mia, 65, a fishmonger at the Mirpur 6 raw market.

So why does Forkan call it a nuisance?

"When you do not have it, you cannot sleep. But even when you do, it still keeps you awake," he replied. "Last night, I went to Karwan Bazar and, after a lot of searching, bought Tk25,000 worth of fish. I have paid Tk10,000, and if I cannot pay the remaining Tk15,000 today, the wholesaler will not give me fish, and on top of it, he will swear at me."

Forkan calls out to about 150 people a day. Around 40-50 people buy fish, and some are quite rude to him. He endures it all for the sake of money. Yet, the banknotes he handles are often in poor condition. Their coating wears off, leaving them pale and flimsy. Some tear as soon as you count them. Sometimes, Forkan thinks life would be easier if money did not exist at all.

Travel diaries of a banknote

Forkan did not see this many banknotes when he was a child. Back then, small change was more common — coins and tiny denominations. He remembers buying a kilogram of rice for Tk1 and 20 paisa. Now there is more money in the market, but its value is low. Handing someone a Tk5 note feels awkward. A cup of tea alone costs Tk10, and that has become the lowest unit of currency.

The most used banknotes, Tk5, Tk10, and Tk20, are in the worst condition. You cannot handle them properly or even store them neatly.

But how do banknotes end up like this? 

"You will find banknotes in the market that are 10 or 12 years old. Imagine how many people's hands that note has passed through in a decade, maybe 10,000 hands! It has travelled across 40 districts. It has survived at least 10 cycles of winter, summer, and monsoon. How can the banknote not be in a wretched state? If everyone kept their money neatly, the notes would last longer." Din Mohammad, potato and onion vendor

Din Mohammad, 62, a potato and onion vendor, explained, "You will find banknotes in the market that are 10 or 12 years old. Imagine how many people's hands that note has passed through in a decade, maybe 10,000 hands! It has travelled across 40 districts. It has survived at least 10 cycles of winter, summer, and monsoon. How can the banknote not be in a wretched state? If everyone kept their money neatly, the notes would last longer."

He further said that money suffers the most damage in the hands of fish and meat vendors. Fishmongers handle notes with wet hands. Meat sellers' notes are often stained with fat and blood.

"Money falls ill from getting wet," admitted Fakir Ahmed, another fishmonger. "Yes, it is ruined in our hands. We take money and give change with wet hands."

Gulistan: The resting place for end-of-life notes 

Behind the Mirpur Indoor Stadium, a market sets up very early in the morning in a narrow lane. Morning walkers often shop here on their way home, which is why it is known as the "Walking Market".

Nurul Islam, 30, sells vegetables here, handling Tk10,000 to Tk12,000 daily.

"In this world, there is probably no one who has not touched money," he said. "Rich or poor; even if they do not touch anything else, they will definitely touch money. The rich handle it carefully and keep it soft and clean. The poor keep their money wherever they can. They do not keep it for long either; it leaves their hands as quickly as it comes. They use it to pay wholesalers, buy groceries, or pay instalments."

Nurul Islam mostly receives notes of Tk10, Tk20, and Tk50. Fewer notes of Tk100 and Tk500 come his way. Many are torn, thin and fragile.

"The wholesalers accept them because they deal with banks. If the notes are completely 'rubbish', we have to go to Gulistan to exchange them, or the money traders come and collect them," he said.

Damage through improper storage

The way people store their money is also a major reason why banknotes get damaged.

At the Walking Market, we also met Jahanara Begum from Bhairab. She comes here three days a week with Tk2,500 worth of black gram flour. She takes the morning train to the airport, then a bus to Mirpur to set up her stall, and returns home in the evening by train.

Jahanara sat silently in a corner, sadness etched on her face. During the coronavirus pandemic, her husband had lost his sanity. They own no land or property and rent a house in Bhairab for Tk4,000 a month. She has two children, and her income alone supports the family. On days she does not travel to the market, she works as a domestic help.

When asked where she keeps her money, Jahanara showed us a small red pouch tied to a thin string around her neck.

At Shyambazar, the traditional wholesale market on the Buriganga, we saw the habits of traders and customers. Most sellers handle large sums, keeping notes in their hands for long periods as they make change for customers. Wallets are impractical for thousands of notes, so many keep money loose in their pockets.

Keramat Ali, a spinach wholesaler, keeps all his money bunched in his pocket. He takes it out at once, hands over change, then stuffs it back.

A female customer from Nawab Bari in Islampur arrived at his stall, carefully unwrapping money from a plastic bag kept inside her black pouch. She quickly bought spinach and left, a porter following her with a heavy load balanced on his head.

Md Rabbi, who sells coriander, keeps his notes in a plastic bag tied to his waist, safe from the rain and convenient for transactions. He was selling local coriander for Tk250 per kilogram.

"We must sell quickly. After eight in the morning, the price falls. Within half an hour, it drops by another Tk30. We are always in a hurry. It is not possible to keep money neatly while selling. We handle it with wet hands, then dry it in the sun later," he said.

Furthermore, fish and vegetable vendors usually do not wear trousers. Many tuck their money into the pleats of their lungis.

"Where would someone in a lungi keep a wallet?" asked Nurul Islam from the Walking Market. "I use a shoulder bag and keep small change in a plastic pouch. I once used a waist belt bag. I have seen women knot money into the corner of their sharis. These notes end up looking terrible. You have to be careful when handling them."

Yet, Nurul Islam insists that the worst damage comes from sweat.

"Money kept in the hand for a long time absorbs sweat, and sweat is the most harmful," he said.

Rickshaw-pullers' banknotes fare slightly better. Many use wallets, as more now wear trousers with pockets. Some still tuck money into waistbands. Others use tissue or plastic bags.

At Mirpur 10, near Alok Hospital, we met Rana, a rickshaw-puller. "Money is a funny thing; if you have it, you are a king; if you do not, you are a beggar," he said. He keeps his notes in a small plastic jar, safe even in the rain.

The world runs madly after money, yet without care, notes are left sickly, dirty and discarded.

"Since everyone needs money, everyone should take care of its health. It is everyone's responsibility," said Din Mohammad. "We should pay attention before our money gets even sicker."